I bought the same setup last Jan when they were on sale. Works well and is great for setting up the TS, etc. The dial indicator is not Starrett quality, but has good repeatability (ie it goes back to the same reading when moved back and forth, which is what you need for checking parallelism and blade runout, etc). I cannot vouch for the accuracy in thousandths, etc, as I don't use it for hard measurements and I haven't checked it against a feeler gauge or micrometer, etc.
The mag base is strong and holds firm to a TS cast iron top, etc. The micro-adjust feature on the arm makes it a bit flimsy for some readings.(ones in which there is a large runout).
For the dial indicator, open the box and make sure it moves freely. When I bought mine, I had to go through three boxes before I found one that didn't hang up. All the boxes had been opened so I'm not sure if someone hadn't screwed them up before I got there. Also, make sure you get the model that is on sale. They have a tendency to pile several ones together, and the others will cost more but aren't any better quality.
Good buy for the price.
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